WisdomTree Investments Establishes Division to Target 401(k) Market.Firm Hires Director of Retirement Services, Director of Product Development & Director of Fixed Income Strategy NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- WisdomTree Investments, Inc. (Pink Sheets: WSDT WSDT Washington State Department of Transportation ) announced the creation of a business unit designed to deliver the full benefits of ETFs to the 401(k) marketplace. The Company has hired 401(k) industry veteran Al Shemtob as Director of Retirement Services to lead the effort. "Investors and advisors have become familiar with the many benefits that ETFs offer and are now looking to utilize them in their 401(k) plans," said Jonathan Steinberg, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of WisdomTree Investments. "The 401(k) market, with over $2.4 trillion in assets, is an untapped channel for ETF ETF See Exchange Traded Fund. ETF See exchange-traded fund (ETF). growth and we believe WisdomTree's ETFs are particularly well-suited for the retirement market." Arthur Levitt, Senior Advisor to WisdomTree stated, "The Pension Protection Act of 2006 will undoubtedly affect the development of the 401(k) marketplace. The movement towards greater transparency, lower fees and greater disclosure of revenue sharing revenue sharing Funding arrangement in which one government unit grants a portion of its tax income to another government unit. For example, provinces or states may share revenue with local governments, or national governments may share revenue with provinces or states. agreements provides a catalyst for change likely to benefit retirees. It will also provide opportunities for thoughtful, low fee exchange traded funds Exchange Traded Funds (ETF) Also known as ETF. A basket of stocks similar to an index mutual fund. However, there are a number of important differences between ETFs and mutual funds. like those created by WisdomTree." "With Al Shemtob, we have the ideal candidate to build this business," said Bruce Lavine, President & COO of WisdomTree Investments. Al was the President of Bisys Retirement Services and its predecessor firm for 17 years. Bisys today provides 401(k) services to over 18,000 plans with more than 1.5 million plan participants Plan participants Employees or other beneficiaries who are eligible to receive benefits from a company's employee benefit plan. . During this period he helped to pioneer the creation of outsourcing services within the 401(k) industry and was instrumental in significant developments in the 401(k) service/sales/ and pricing models. Mr. Shemtob will be assisted by two other key additions to the WisdomTree executive ranks. Ben Slavin has joined as Director of Product Development from Morgan Stanley Investment Management and before that from Profund Advisors L.L.C. Additionally, Richard Harper has joined as Director of Fixed Income Strategy. Rick was most recently a VP, Senior Portfolio Strategist at RBC RBC red blood cell. RBC or rbc abbr. red blood cell RBC, n See red blood cell count. RBC red blood cells; red blood (cell) count (see blood count). Dain Rauscher and was a former ETF fixed income portfolio manager for ETF Advisors. About WisdomTree Investments, Inc. WisdomTree Investments, Inc. has developed the first family of fundamentally weighted indexes and ETFs. The WisdomTree Indexes cover all major market capitalizations, both domestically and internationally. In contrast to capitalization-weighted indexes, the WisdomTree Indexes anchor the initial weights of individual stocks to a measure of fundamental value. WisdomTree believes its approach provides investors with a viable alternative to market cap-weighted indexes. WisdomTree Trust is a Delaware statutory trust registered as an open-end investment company open-end investment company: see mutual fund. with the Securities and Exchange Commission. Each WisdomTree ETF is a series of WisdomTree Trust. WisdomTree's first ETFs were launched in June of 2006. At the end of 2006, WisdomTree Trust assets were $1.5 billion. At the end of March 2007, assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. in the WisdomTree Trust are approximately $3.1 billion. WisdomTree Funds are distributed by ALPS Alps, great mountain system of S central Europe, c.500 mi (800 km) long and c.100 mi (160 km) wide, curving in a great arc from the Riviera coast on the Mediterranean Sea, along the borders of N Italy and adjacent regions of SE France, Switzerland, SW Germany, and Distributors, Inc. Investors should consider the investment objectives, risks, charges and expenses of the Funds carefully before investing. A prospectus, containing this and other important information, is available at www.wisdomtree.com. Investors should read the prospectus carefully before investing. There are risks involved with investing, including the possible loss of principal. Past performance is no guarantee of future results. [c] 2007 WisdomTree Investments, Inc. "WisdomTree" is a service mark of WisdomTree Investments, Inc. WisdomTree Investments, Inc. has a patent pending on the methodology and operation of its indexes. |
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